The company plans to use the funds raised to launch new digital media properties, including launching six new web series on its YouTube channel Silly Tube.

"The funds raised will further secure and maximise ROI for our clients, by delivering new digitally immersive online experiences to a highly connected customer base and help create innovative original content.” said Sanjay Reddy, Founder and Managing Director of SillyMonks.

SillyMonks was started by Reddy and Anil Pallala in September 2013 and had earlier raised an undisclosed amount of funding from​ ​angel investor Korrapati​ ​Ranganatha Sai of Vaaraahi Chalana​ ​Chitram.

"We have a multitude of popular digital media properties like MonkStar and over 650+ YouTube Channels with original content. We are looking at adding compelling content and options to brands and agencies eager to connect with the critical and growing digital demographics, in the online &television market space with a profitable combination of technology and content” said Reddy.

The company claims to have generated revenues of Rs 4.75 crore in 2015-16 and hopes to grow by 50% in the ongoing fiscal year.